Dunlop MD quits for failure’

"At the time of referring the company to BIFR, Rao was given a task to work out a plan of action and resume operations at the factory within six months. Due to reasons beyond explanation, this task could not be accomplished. Under the circumstances, the board of Dunlop has accepted his resignation," said a release issued by the company.

The board of directors of Dunlop India, which met inMumbai on Saturday, accepted the resignation of Rao and inducted Lamba into the top management team. "The new managing director of Dunlop is likely to join soon. The incumbent will be a technocrat with administrative experience," says the release.

The board recast, adds the release, is aimed at revival of the Calcutta-based tyre company, adding that chairman M R Chhabria has given a clear mandate to the working group that the operations at the Dunlop factories should resume at the earliest.

Expressing serious concern on the state of affairs in Dunlop, Chhabria has said: "This uncertainty cannot go on unendingly. The top team has to work out a revival plan immediately and implement it in the good interest of the company and everybody affected. A company that was contributing crores of rupees to the state exchequer is struggling for its survival. This situation must be brought to an end and an amicable solution should be found to start the factory."

Parekh leaves Philips board

CALCUTTA: Consumerelectronics major Philips India Ltd on Saturday announced the resignation from its board of Deepak Parekh, chairman and managing director of Housing Development Finance Corp Ltd. Philips said that Parekh, who had been serving as non-executive director from 1998, had cited non-availability of time and put in his resignation on February 2. The Philips board accepted Parekh’s resignation at a meeting on February 26. Industry sources said that Parekh resigned to protest Philips’ deal with rival Videocon to sell its colour television factory at Salt Lake in Calcutta and the management’s behaviour towards its employees.

Thomas to head Lafarge India

MUMBAI: Former Hindustan Lever chairman T Thomas has been appointed as the chairman of French cement giant Lafarge’s Indian operations. Thomas, who earlier served as a member of the International Advisory board of Lafarge in Paris, has been selected to become Lafarge India’s first chairman. Thomas Farrell, Lafarge’s country manager, has been elevated to thepost of CEO for the Indian operations. Farrell, who worked for the cement major in the US, Canada and France, had played a crucial role in the negotiations for acquisition of Tata Steel’s cement business, which was bought out by Lafarge for Rs 550 crore.